Major currencies, especially the US dollar, in early trading on Monday showed a mixed performance, influenced by the latest economic data published.
Examining the manufacturing and services PMI data reports, analysts identified a trend displayed in the figures for December.
The average reading published was mixed with the manufacturing sector showing a declining figure, down from the previous month's reading.
However, the services sector excelled with figures increasing, surpassing the previous month and market forecasts.
Including France, Germany and the UK, the United States (US) also displayed a similar reading trend.
This situation continues to make investors cautious ahead of other important data that will be presented and also the meetings of major central banks throughout this week.
Today's focus (Tuesday) will be on the UK employment data report and German ZEW economic sentiment in the European session before in the New York session, Canadian inflation data and US retail sales data will be given attention.
The US dollar yesterday failed to provide a clear direction for investors, as did the Euro currency, which is still moving in a flat zone.
Meanwhile, the Pound has managed to show more positive movement to cut half of the losses from last week's price drop.
The Australian dollar and Canadian dollar are flat, remaining traded cautiously ahead of important data that will influence its value changes.
The Yen has maintained a weak pattern since last week and continued early this week as investors await the outcome of the Bank of Japan (BOJ) policy meeting on Thursday along with the Bank of England (BOE) and the Federal Reserve (Fed).
The FOMC meeting will be the main agenda this week with high expectations that the Fed will cut interest rates by 25 basis points for the last meeting of 2024.
The market will also focus on the formulation of economic projections and the "dot plot" of interest rates by Fed policymakers.
